(Pinduoduo) Pinduoduo shares fell more than 17% in premarket on Friday after the company reported a revenue of RMB21.51 billion or US$13.34 billion in the third quarter of 2021. The revenue missed estimates by $690 million but was 51% higher than the prior year.
Pinduoduo’s average monthly active users reached 741.5 million in the third quarter, up 15% from the prior year.
The company’s operating profit was RMB2.14 billion in the third quarter, an increase from a loss of RMB1.296 billion in the prior year.
Net income attributable to ordinary shareholders climbed to RMB1.64 billion in the third quarter, from a loss of RMB784.7 million in the prior year.
PDD: NASDAQ is down -17.79% on premarket.
